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Seoul shares seen higher on rate cut hopes despite N.Korea
April 9, 2013 / 11:29 PM / 5 years ago

Seoul shares seen higher on rate cut hopes despite N.Korea

SEOUL, April 9 (Reuters) - Seoul shares are likely to rise
on Wednesday on hopes that the country's central bank will cut
interest rates, a climb that would come despite signs North
Korea was preparing for a missile launch.
    "The index will rise on hopes for a rate cut tomorrow, but
the rebound will be fragile due to the continuing geopolitical
risk," said Kim Sung-hwan, an analyst at Bookook Securities.
     A Reuters survey showed 18 of 22 analysts forecast the Bank
of Korea would lower its benchmark policy rate by
25 basis points to 2.50 percent at a rate meeting on Thursday,
its first easing in six months. 
     North Korea intensified threats of an imminent conflict
against the United States and the South on Tuesday, warning
foreigners to evacuate South Korea to avoid being dragged into
"thermonuclear war". 
     The Korea Composite Stock Price Index (KOSPI) ended
0.1 percent higher at 1,920.74 points, pulling back from a 4-1/2
month low marked earlier in the day.
    
------------------MARKET SNAPSHOT @ 22:28 GMT-------------------
 
INSTRUMENT         LAST    PCT CHG   NET CHG
S&P 500                    1,568.61       0.35%     5.540
USD/JPY                       99.16       0.14%     0.140
10-YR US TSY YLD         1.752        --       0.000
SPOT GOLD                 $1,585.50       0.05%     0.800
US CRUDE                     $93.98      -0.23%    -0.220
DOW JONES                  14673.46       0.41%     59.98
ASIA ADRS                   137.13       0.24%      0.32
----------------------------------------------------------------
>Dow ends at another record close as cyclicals rally 
>Prices for longer-dated US Treasuries fall pre-sale 
>Dollar dip vs yen but 100 in sight,Fed minutes eyed 
>Oil rises on weak dollar, Brent-WTI spread widens  
    
---STOCKS TO WATCH---  

    ** HYUNDAI MIPO DOCKYARD **
    Hyundai Mipo said on Tuesday it had won a 348.3 billion
Korean won ($305.5 million) order to build 10 petrochemical
product carriers from an unidentified shipper in the Marshall
Islands. 
    

 (Reporting by Somang Yang; Editing by Edwina Gibbs)

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